[clari.canada.general] FBDB:

clarinews@clarinet.com (Kelly/Standard Broadcast News) (02/01/90)

	(OTTAWA) A senior official of the Federal Business Development Bank
has been demoted over loans made to a number of strip clubs.
	After a review of bank policy following the discovery that
thirty-eight strip clubs had been loaned some 17-Million dollars from
the F-B-D-B, the chief operating officer for loans has been relieved of
his money-lending duties. 
	A Government official says former C-O-O Ken Neilson is now working
in an advisory position for the bank.
	Besides the demotion, fourteen bank employees have had their
salaries frozen for their roles in approving the loans to strip clubs.
Those jobs are mainly in Ontario and British Columbia and the salary
freeze varies three to eighteen months.